BSTDB further expands its SME support in Russia

Press Release | 21-Jan-2011

The Black Sea Trade and Development Bank made available a USD 5 million SME leasing facility to NBD Bank from Russia. The BSTDB financing will provide the much needed medium-term funding for Russian SME sector, contribute to job creation as well as to institutional development and business growth of the client bank. The term of the facility is 5 years.

This is the third SME loan facility provided to NBD Bank, after the previous two financings granted in 2007 and 2008.

* * * * * * * * * * *

NDB Bank is a small regional private bank established in 1992 in Nizhniy Novgorod, Russia and specializing in SME financing. As at today NBD Bank’s network incorporates 21 offices in five Russian regions – Nizhny Novgoprod, Ivanovo, Penza, Kirov Regions and in the Republic of Chuvashia. The Bank has an extensive cooperation with IFIs on funding its SME lending activities, while  EBRD participates with a 25% stake in the NBD’s capital.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The recently increased authorized capital of the Bank is SDR 3 billion (approx. € 3.5 billion). BSTDB is rated A3 with stable outlook by Moody's.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org